I don't think its that much of a stretch to say that. There was a huge backlash to the shoegaze aesthetic, shoegaze records stopped charting and the original bands broke up or made disastrous attempts to adapt to the new trends (cough Ride's last two albums cough).

As far as the Thames Valley scene was concerned it was DEAD in 1993. The Swirlies were doing a shoegaze-type sound over in Boston and you had Curve still retaining some shoegaze sounds up until 2001 but otherwise no one was selling any shoegaze records after 1993.

Also it should be noted that only ONE of the songs on mbv was recorded in 2012 and the rest were somewhere between 5-20 years old. So its not really new shoegaze.

Finally if anyone liked this article check out music critic Chris Ott's series Shallow Rewards on youtube. He devotes two episodes to shoegaze and although they're a bit obtuse and pretentious there's lot of great info in them.